IB Arogya Raksha – Portability Options for existing customers

IB Arogya Raksha – Portability Options for existing customers

Upon Arogya Raksha Group Health Insurance product withdrawal by M/s UIIC w.e.f. 06.03.2023 for issuance of fresh policies and renewal of existing policies allowed till 04.06.2023, Bank has taken up with M/s UIIC and other Insurance Corporate agency partners for offering portability options to the existing customers covered under “Arogya Raksha”. Bank presently has made available 5 portability options for the existing customers to choose from for portability.

Consequently, Arogya Raksha existing customers have the following options to port their existing policies for the renewal:

Based on the underwriting process of the Insurance Partners, the brief features are stated below and proposal form and premium structure under each of the above option are enclosed as annexures.

Customers are free to choose any of the above options to port their Arogya Raksha policies during renewal subject to approval from the Insurer as per their respective underwriting guidelines.

Existing Arogya Raksha customers are advised to carefully go through each of the product option features available from the above insurers based on their requirements. All policies which are due from 05.06.2023 can be migrated to any of the above scheme, or to any other insurer as per customer’s choice / preference.

Please note that the portability has to be done or the policies have to be renewed before the expiry of the due date of the existing policy and there will be no grace period available for portability.

The proposal form for migration to the products are to be submitted to the representatives of respective insurance companies, who will be visiting the branches. In case of UIIC, the proposal can be submitted directly to UIIC Branches across the country.

All the existing Arogya Raksha policy holders are requested to visit their Home Branches for more details.

General Manager

R & GR / Bancassurance